U.S. stock futures saw an uptick on Tuesday, following a broad market rally that marked the beginning of a new month on Wall Street.
S&P 500 futures rose by 0.2%, while the tech-heavy Nasdaq 100 experienced a 0.5% increase. On the other hand, futures for the Dow Jones Industrial Average stayed mostly flat after this benchmark had surged by 500 points in Monday’s trading.
In the realm of AI-related stocks, companies like SanDisk ended the day positively. However, NVIDIA faced a drop of nearly 3% owing to news that OpenAI is postponing a major $100 billion deal and looking into different hardware options due to some disappointment with NVIDIA’s chips.
Cryptocurrencies, meanwhile, are still experiencing volatility. Bitcoin managed to regain some strength after hitting its lowest point since April, but precious metals like gold and silver continued to decline. Gold and silver futures both fell on Monday after having significant losses late the previous week.
This week is set to be busy for corporate earnings, with over 100 S&P 500 companies planning to report. Advanced Micro Devices is set to share its earnings today, while heavyweights like Amazon and Alphabet will follow later in the week. Palantir shares increased about 6% in after-hours trading after the company reported better-than-expected fourth-quarter results and offered encouraging guidance.
After a rather subdued reaction to Microsoft’s earnings last week, investors are particularly keen on tech company results. They’re hoping to find signs that investments in artificial intelligence are driving improvements in profit margins and growth.
This week’s release of various economic statistics, including the widely awaited monthly jobs report on Friday, is likely to be delayed due to another partial shutdown of the U.S. government.
